Pecca Group Berhad (PECCA, 5271)

• Share price closed 2.38% higher at RM0.86 on Monday.

• PECCA broke its resistance level at RM0.845 with higher buying interest and closed above all its key moving average lines. It had just announced FY2022 revenue improved by 14% y-o-y, PAT was up by 19% y-o-y yesterday. As the indicators showed an uptick momentum, share price is expected to go higher.

• Resistance levels are identified at RM0.88 (R1) and RM0.89 (R2).

• On the flipside, support levels are pegged at RM0.805 (S1) and RM0.78 (S2).

Source: Rakuten Research - 30 Aug 2022